Quote:
Originally Posted by Susie Cougar
She didn’t ask if the time was right to buy a home expecting a return on her investment. She asked about not being able to see certain things in the winter time under the snow.
My daughter was married in 2005, just when the economy was starting to crash, and bought a rowhouse in Baltimore that summer. The house went down in value year after year, but they had payments that they could afford and ended up living there for 18 years before they moved out to the county. They sold it for $25,000 more than they paid for it but they enjoyed every minute that they lived there.
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I was responding to Thinkx, not the OP.
I've been around a long time, I'm 70. I know real estate is a great investment if you hold it long enough. But I also think of it as an investment, and when prices are topped out and people are reacting to FOMO, it's not a great time to buy.
The old saying in stocks pertains to real estate also, "be a fireman, run in when everyone else is running out".